Toronto home sales lose momentum as buyers hold their fire
Sellers pulled back too. New listings fell 14.4% to 16,500 and active listings dropped 9.3% to 26,131.
On a seasonally adjusted basis, both sales and new listings declined from August.
Prices kept sliding. The average selling price fell 5.1% to $1,006,409, while the MLS Home Price Index composite benchmark, TRREB’s measure of a typical home’s value, dropped 4.7% to $917,600. Both edged lower month over month.
Where the slowdown hit hardest
The suburbs took the bigger hit. Detached sales in the regions surrounding the City of Toronto, known as the 905, fell 10.3%, compared with a 4% decline inside the city.
Townhouse sales across the GTA slid 12.8%, the largest drop of any major home type.
